CIMG Inc. announced on Tuesday that it has closed the sale of 220 million shares of its common stock for $55 million as part of a strategic move to build a robust Bitcoin treasury.
“Moving forward, the company intends to continue to increase its digital asset reserves and pursue collaborations across AI and crypto ecosystems, such as Merlin Chain,” said Wang Jianshuang, CEO of CIMG.
There are over 170 Bitcoin Treasury Companies in operation, where the majority have dissolved their original business plan to instead focus on raising equity to buy Bitcoin. Thomas Fecker-Boxler, Interim CEO of the Web3 Foundation, believes the recent wave of corporate treasuries moving into Bitcoin is less a surprise and more a predictable outcome of capital chasing easy gains.
Several companies have established corporate crypto treasuries, following the successful accumulation of Bitcoin by Michael Saylor’s Strategy.
“The sustainability of corporate crypto treasuries will depend less on short-term enthusiasm and more on the leverage and balance sheet structures behind them—especially where convertibles and convexity are involved.”
“But this is less a sign of structural maturity than opportunistic allocation. Ultimately, the trend is double-edged: it brings fresh capital and visibility, but also carries the risk of instability if approached purely as a financial play.”
“The silver lining is that a new segment of capital is entering the market, potentially broadening adoption and deepening liquidity,” he noted.
